Blue Apron Plummets After Amazon Files for Meal-Kit Trademark

Paterniano Del Favero
Luglio 17, 2017

Amazon's grocery ambitions were clear long before the Internet giant bought Whole Foods last month, and the company is moving ahead after purchasing the grocery chain.

Blue Apron Holdings Inc. dropped as much as 12 percent after Amazon.com Inc. filed a trademark application for prepared food kits, the latest sign that investors are concerned about newly public Blue Apron's prospects.

In early Monday trades, Blue Apron shares plunged as low as $6.51, off more than 11 percent from Friday's close and almost 33 percent below their June 29 IPO price of $10 on the New York Stock Exchange. "You be the chef".

It's just the latest Amazon-fueled hit absorbed by the flailing Blue Apron, which took a cleaver to its IPO range in the week before pricing following Amazon's $13.7 billion acquisition of Whole Foods.

The Amazon application also includes: "frozen, prepared and packaged meals consisting of meat, poultry, fish, seafood, fruit and/or vegetables; fruit salads and vegetable salads; soups and preparations for making soups", and "frozen, prepared, and packaged meals and food kits consisting primarily of grains, rice, noodles, pasta or bakery products". The filing has the word mark "We do the prep".

Up until now, though, Amazon's testing of meal kits has carried no official label, slogan nor branding. The deal sent grocery stocks tumbling and ratcheted up skepticism about Blue Apron's prospects.

Blue Apron delivers boxes of pre-portioned ingredients ingredients and instructions to cook meals at home.

Representatives from Amazon and Blue Apron didn't immediately respond to CNBC's request for comment.

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